Boat Manufacturer Business Plan, Marketing Plan, How To Guide, and Funding Directory
The Boat Manufacturer Business Plan and Business Development toolkit features 18 different documents that you can use for capital raising or general business planning purposes. Our product line also features comprehensive information regarding to how to start a Boat Manufacturer business. All business planning packages come with easy-to-use instructions so that you can reduce the time needed to create a professional business plan and presentation.
Your Business Planning Package will be available for purchase after your order.
Product Specifications (please see images below):
- Bank/Investor Ready!
- Complete Industry Research
- 3 Year Excel Financial Model
- Business Plan (26 to 30 pages)
- Loan Amortization and ROI Tools
- Three SWOT Analysis Templates
- Easy to Use Instructions
- All Documents Delivered in Word, Excel, and PDF Format
- Meets SBA Requirements
People love water activities and boating. As such, there are a number of boat manufacturers within the United States produce standard sized vessels as well as a tremendous number of customizable options. For the purposes of this business plan, this is a type of business that produces one-of-a-kind boats specific for the customer specifications. One of the reasons why many people get into the boat manufacturing industry in this capacity is that they are able to provide a number of different designs and customization features for each client. Rather than taking the capital risk of producing a boat that may not sell, boat manufacturers that operate in this fashion are able to limit their financial risk by only engaging in a manufacturing process once an order is received from the client. Usually, a deposit is made which usually covers all the underlying materials and labor costs prior to the sale of the boat. Usually, the startup costs associated with the new boat manufacturing firm run about $100,000 to $500,000 depending on the size of the facility that will be used to develop the boat. In some cases, a boat manufacturing business must be located on a body of water or very close to it in order to test each vessel is produced by the business. The gross margins from sales for these businesses is typically around 50% although these figures can be higher in the event that a number of specialized customizations are provided to the customer.
Given the fact that this business produces boats on a one-off basis in a specific to a client’s specifications, most financial institutions are willing to provide a working capital line of credit or small business loan in order to get these operations off the ground. Of course, a boat manufacturer business plan is going to be required. This document should feature a three-year profit and loss statement, cash flow analysis, balance sheet, breakeven analysis, and business ratios page. As it relates to industry research, there are approximately 2,000 independently owned and operated boat manufacturing companies within the United States and each year these businesses produce about $15 billion revenue per year.
One of the things that should be mentioned within the business plan is that these businesses are highly subject to negative changes in the economy. The acquisition of a new boat or similar marine vessel is an expensive purchase, and as such during deleterious economic conditions some people will reduce their expenditures on nonessential items. However, the vast majority of people that are able to buy a custom boat are relatively immune from negative changes in the economy given their substantial income and net worth. A demographic analysis discussing the types of buyers for boats should be included as well.
A boat manufacturer SWOT analysis should be produced in conjunction with both a marketing plan and business plan. This document outlines those strengths, opportunities, weaknesses, and threats faced by these businesses. As it relates to strengths, boat manufacturing businesses are able to produce strong gross margins from the sale of customized boats. They are able to reduce their development to any given time, and the barriers to entry for this business are extremely high. Although it doesn’t take much to start this business, and entrepreneur looking to start their own boat manufacturing firm does need to have a substantial amount in of experience in the marine vessel industry.
For weaknesses, these businesses are again highly subject to negative changes in the economy. As such, it is imperative that the entrepreneur develop ways to control all underlying and fixed expenses in order to ensure that the business can remain profitable even during recession.
For opportunities, one of the ways that these businesses readily expand is by developing a number of preset plans that are used for mass production. Some boat manufacturing companies will license their designs and plans to other third-party boat manufacturing companies. Additionally, additional orders can be handled at any given time via the expansion of the initial facilities.
As stated above, the biggest threat faced by these businesses is the risk of an economic recession which would crimp the ability of buyers.
A boat manufacturing company marketing plan also needs to be developed. Most importantly, and expansive online presence should be maintained in order to ensure that people can see previously developed boats while also taking a look at the experience of the founders and the production staff. This website should feature content rich images as well as text discussing all aspects of the company’s manufacturing process and operations. This website should be mobile friendly and listed among all major search engines.
One of the other ways that these businesses market their operations is by frequently attending fairs that are geared towards boating and yachting enthusiasts. This is one of the quickest ways to develop a strong brand name given that sales literature can be distributed to interested buyers as well as third-party companies that may work with the business on a subcontracted basis. Many boat manufacturing companies often maintain strong relationships with one another in order to have certain aspects of a boat produced. Frequently, once a business establishes itself a little bit more they will take out full-size print advertisements in boating and yachting magazines as well as distributed circulars that showcase boats for sale.
Boat manufacturing is a highly complex business that can produce very strong gross margins for a qualified owner operator. Although these businesses do face some downward pricing pressure during an economic recession, a qualified entrepreneur can very quickly manage all underlying expenses while ensuring that the business is able to generate a moderate amount of revenue at any given time. There’s nothing about this industry that is going to change moving forward, although continued increases in technology have made the production of boats and much more streamlined process.